Independent brokerage giant Osaic has held another round of layoffs, according to sources with knowledge of the situation.

Sources told Citywire the firm let go of a small retirement income planning team as well as a number of employees in its advisory services, technology and product solutions teams. It was not immediately clear exactly how many positions across the company were eliminated.

An Osaic spokesman did not comment on the total number of employees affected by the layoffs.

‘This week, we took the difficult action of eliminating roles across the Osaic workforce. This was part of an exercise we conduct periodically to ensure we have the efficiency, expertise, skills and nimbleness needed to achieve our goals,’ the spokesman said. ‘Evaluating structures and roles across the entire organization is also a common practice following M&A activities, like the Lincoln Wealth acquisition and completing their full transition to Osaic Wealth in January.’

‘These decisions are not taken lightly...